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As both economies started to show visible signs of distress, there was new optimism that reason would finally prevail, even in the face of an escalating weaponization of policy by the United States: threatened capital controls, rumored delisting of Chinese companies whose shares trade on American stock exchanges, new visa restrictions, a sharp expansion of blacklisted Chinese firms on the dreaded Entity List, and talk of congressional passage of the Hong Kong Human Rights and Democracy Act of 2019.
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